Brightcove Inc. Stock Forecast
Evaluation of Brightcove Inc. stock downgraded after the last trading session.
(Updated on May 03, 2024)
The Brightcove Inc. stock price gained 4.40% on the last trading day (Friday, 3rd May 2024), rising from $1.82 to $1.90. During the last trading day the stock fluctuated 6.93% from a day low at $1.81 to a day high of $1.93. The price has been going up and down for this period, and there has been a 9.2% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 168 thousand more shares were traded than the day before. In total, 292 thousand shares were bought and sold for approximately $554.33 thousand.
Given the current short-term trend, the stock is expected to fall -24.10% during the next 3 months and, with a 90% probability hold a price between $1.19 and $1.44 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BCOV Signals & Forecast
The Brightcove Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.75 and $1.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 16.56%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Brightcove Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Brightcove Inc. stock
Brightcove Inc. finds support from accumulated volume at $1.89 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.125 between high and low, or 6.93%. For the last week, the stock has had daily average volatility of 6.66%.
Our recommended stop-loss: $1.83 (-3.58%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (BCOV) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Brightcove Inc. to open at $1.88, and during the day (based on 14 day Average True Range), to move between $1.80 and $2.00, which gives a possible trading interval of +/-$0.0971 (+/-5.11%) up or down from last closing price. If Brightcove Inc. takes out the full calculated possible swing range there will be an estimated 10.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.91 (0.53%) than the support at $1.89 (0.53%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Brightcove Inc. will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0500. We will update the financials statements for Brightcove Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.70% in the first trading day after earnings release.
Is Brightcove Inc. stock A Buy?
Brightcove Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Brightcove Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $1.88 ( 1.14%) | $1.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BCOV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.00 | 5.44 % | |
| R2 | 1.96 | 2.93 % | ||
| R1 | 1.93 | 1.37 % | ||
| Current price: | 1.90 | |||
| Support | S1 | 1.83 | -3.65 % | |
| S2 | 1.80 | -5.21 % | ||
| S3 | 1.75 | -7.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.22 | 16.84 % | |
| R2 | 1.95 | 2.63 % | ||
| R1 | 1.91 | 0.526 % | ||
| Current price | 1.90 | |||
| Support | S1 | 1.89 | -0.526% | |
| S2 | 1.86 | -2.11% | ||
| S3 | 1.78 | -6.32% |
FAQ
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